'Pawn Stars' Rick Harrison reveals 1 'solid asset' that has global demand even after 6,000 years — suggests protection against China-Taiwan, Russia, and Middle East fears

That’s because when people start to feel a financial crunch, they may turn to pawn shops for quick cash, leading to an increase in pawn shop business. This uptick can signal the onset of economic downturns, as it reflects a growing need for immediate financial solutions among the general population.

And right now, that canary is looking a little worse for wear.

“The default rate is going up a little bit,” Harrison, whose store, Gold & Silver Pawn Shop, is featured on the History series “Pawn Stars,” said in a recent interview with Fox Business.

Here's what that means and how to protect yourself.

There might be a simple explanation

In his Fox Business interview, Harrison highlighted that in most pawn shops, 95% of pawned items are reclaimed. Yet, he said that he’s seen this percentage “go down a little bit in the past couple of months."

That being said, he refrained from making economic predictions based on this observation, instead attributing the trend to increasing price levels.

“I believe it's the inflation part. You know, the dollar doesn't go nearly as far anymore, and it's sticker shock when you go to the grocery store.”

‘A solid asset’

Host Charles Payne also took the opportunity to ask Harrison about the recent surge in gold and silver prices — a pertinent question given that’s a big part of his business.

Harrison’s response first highlighted gold’s function as a means of exchange throughout human history.

He stated, “For 6,000 years, that's the one currency that's still around.”

Moreover, Harrison pointed to the ongoing geopolitical conflicts around the globe — and what that could potentially mean for the yellow metal.

“When you see China and Taiwan, you see Russia, you see the Middle East, people get scared. You know, it's a solid asset,” he said.

Harrison's reference to geopolitical conflicts underscores gold’s status as a safe haven asset. During periods of uncertainty, such as economic instability, war, or political unrest, people tend to gravitate towards gold.